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Investing.com -- The Trump administration is preparing a proposal to open nearly all US coastal waters to new offshore oil drilling, according to documents reviewed by Bloomberg News.
The draft plan for selling oil leases would include waters near the southeast US that President Donald Trump had previously attempted to close off during his reelection campaign five years ago. This shift appears to acknowledge concerns from Republican allies about potential oil spills damaging beaches and harming tourism-dependent economies.
The expansive Interior Department proposal would make most US coastal areas available for drilling despite opposition from state governors. The documents indicate the administration is moving forward with a significant expansion of offshore drilling access.
It remains unclear whether the drafted plans have been presented to President Trump for his approval, and they could undergo changes before being officially published.
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